According to a Kommersant report, sales of cafes and restaurants in shopping malls in March-April fell 3% year-on-year, while in fast-food restaurants, the figure was This is an increase of 16%. The closure of McDonald’s stores has also contributed to an increase in demand for fast food.
Cafes and restaurants have 10% fewer orders, with average checkouts up 8% and fast food outlets up 4%, analysts say. average increase of 11%.
Prices of most goods from vegetables to sugar to clothes and smartphones in Russia have increased sharply in recent weeks. (Image: Pixabay)
An additional driver of the fast food inflows to cafes and restaurants has been the shutdown of international retailers, said Elena Perepelissa, CEO of consulting firm RestCon.
Malltech – a Russian development company specializing in the construction, management and development of shopping and entertainment centers confirmed this trend, according to which the revenue of fast food operators in the centers Shopping rose 6% in March alone, while cafes and restaurants fell 3%.
“Stores that focus on the middle class have closed, so the motivation for this group of people has also decreased.”this expert said.
According to Irina Burenko, commercial director of R4S Group, sales of KFC in the Moscow Zarya shopping center in April increased by 72% compared to the same period last year, while sales of Cofix (coffee chain, bars and supermarkets) doubled. In addition, Pizza Hut at the Mart shopping center earned 10% more in April, Teremok (a Russian fast food chain) increased by 58%.
At the end of April, it was reported that the profits of the fast-food chain McDonald’s had decreased, mainly due to the closure of stores in Russia and Ukraine.
According to the company’s financial report for the first quarter of 2022, the profit of the US fast food chain fell 28% compared to the same period in 2021. It fell from $1.54 billion to 1.1. billion USD.
Previously, on April 20, the Russian Economy Ministry announced that inflation in this country for the week of April 9-15 was 17.62% (adjusted for a year basis). This rate is the highest since the beginning of 2002 and higher than 17.48% the previous week.
Russian inflation accelerated as the ruble fluctuated due to Western sanctions, causing prices to rise. However, data from the statistics agency Rosstat also shows that Russia’s weekly inflation has slowed. In the week to April 15, this rate was 0.2%, slower than 0.66% in the previous week. The main reason is the drop in prices of non-food items. Fuel prices continue to rise. Since the beginning of the year, Russia’s consumer price index has increased by 11.05%. In the same period last year, this rate was 2.72%.
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